TD SYNNEX (NYSE:SNX) Upgraded to "Buy" by UBS Group

TD SYNNEX (NYSE:SNX - Get Free Report) was upgraded by equities researchers at UBS Group from a "neutral" rating to a "buy" rating in a research report issued on Tuesday, Marketbeat.com reports. The firm currently has a $145.00 target price on the business services provider's stock, up from their previous target price of $115.00. UBS Group's price target indicates a potential upside of 28.35% from the company's current price.

Several other equities research analysts also recently commented on SNX. Bank of America raised their target price on TD SYNNEX from $120.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday, April 2nd. Cfra raised their target price on TD SYNNEX from $110.00 to $113.00 and gave the company a "hold" rating in a report on Tuesday, March 26th. Barclays raised their target price on TD SYNNEX from $111.00 to $118.00 and gave the company an "equal weight" rating in a report on Wednesday, March 27th. Royal Bank of Canada reiterated a "sector perform" rating and set a $118.00 target price (up from $110.00) on shares of TD SYNNEX in a report on Wednesday, March 27th. Finally, StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a report on Thursday, December 21st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $121.82.

TD SYNNEX Trading Up 1.1 %

Shares of TD SYNNEX stock traded up $1.27 during trading hours on Tuesday, reaching $112.97. The stock had a trading volume of 1,314,107 shares, compared to its average volume of 974,595. The firm has a 50 day simple moving average of $106.73 and a two-hundred day simple moving average of $102.35. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 1.07 and a beta of 1.64. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. TD SYNNEX has a 1 year low of $86.30 and a 1 year high of $119.87.

Insider Transactions at TD SYNNEX

In related news, Director Fred A. Breidenbach sold 3,849 shares of the business's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $103.61, for a total transaction of $398,794.89. Following the completion of the transaction, the director now owns 18,148 shares in the company, valued at approximately $1,880,314.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Fred A. Breidenbach sold 3,849 shares of the business's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $103.61, for a total transaction of $398,794.89. Following the completion of the transaction, the director now owns 18,148 shares in the company, valued at approximately $1,880,314.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Urban sold 5,000 shares of the business's stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $104.34, for a total value of $521,700.00. Following the transaction, the insider now owns 31,386 shares of the company's stock, valued at approximately $3,274,815.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,204 shares of company stock worth $5,329,180. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SNX. Apollo Management Holdings L.P. acquired a new position in TD SYNNEX during the 1st quarter worth $3,622,519,000. Pacer Advisors Inc. boosted its position in TD SYNNEX by 33,158.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider's stock worth $143,767,000 after acquiring an additional 1,331,988 shares during the period. Norges Bank acquired a new position in TD SYNNEX during the 4th quarter worth $79,506,000. AQR Capital Management LLC boosted its position in TD SYNNEX by 330.6% during the 1st quarter. AQR Capital Management LLC now owns 679,948 shares of the business services provider's stock worth $64,738,000 after acquiring an additional 522,055 shares during the period. Finally, Vanguard Group Inc. boosted its position in TD SYNNEX by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 5,379,928 shares of the business services provider's stock worth $578,934,000 after acquiring an additional 371,322 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

About TD SYNNEX

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.